INCENTIVIZING SUSTAINABLE PRACTICES

Blockchain is a disruptive technology that can facilitate traceability in agriculture supply chains through decentralized immutable public records.

Agricultural cooperatives powered by the blockchain reward sustainable practices, encouraging farmers to establish provenance of their methods in order to attain a financial reward.

Smallholder farmers cultivate crops on 12% of the world’s farmlands and constitute a majority of producers in developing economies. To encourage them to produce high-quality yield, it is crucial to improve their access to financial assistance, which can aid them in investing further in farm productivity by procuring high-quality inputs, upgrading their post-harvest processes, staying informed about sustainable farming practices, and adopting better risk management practices; all of which will support their transition from subsistence farming to one that is economically and commercially viable.